Bhagawati Gas Limited disclosed on August 08, 2026, that its statutory auditor, M/s Jain Paras Bilala & Co., has resigned from its position. The resignation becomes effective at the close of business hours on August 14, 2026, contingent upon the completion and signing of the Limited Review Report for the quarter ended June 30, 2026. This transition affects the company’s audit oversight for the remainder of FY26 and subsequent periods.

The intimation was issued pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. Managing Director Rakesh Samrat Bhardwaj signed the disclosure to the Department of Corporate Services at BSE Limited. Jain Paras Bilala & Co. was originally appointed at the 48th Annual General Meeting held on September 30, 2022, for a five-year term extending until the conclusion of the 53rd Annual General Meeting in calendar year 2027.

Resignation Details

The auditor’s resignation letter, dated August 07, 2026, outlines the specific conditions and timeline for the exit. Key details regarding the change in statutory auditor are summarized below:

Jain Paras Bilala & Co. confirmed that the decision stems from the firm’s internal engagement continuance policy. The firm explicitly stated that the resignation does not arise from any disagreement with the management of Bhagawati Gas Limited. Prior to formalizing the resignation, the firm communicated its intention to the company on August 07, 2026.

Regulatory Compliance and Next Steps

As per the Companies Act, 2013, Jain Paras Bilala & Co. is required to file a statement in Form ADT-3 with the Registrar of Companies. A copy of this filing will be forwarded to Bhagawati Gas Limited for its records. Until the effective date of resignation, the firm will continue to discharge all statutory responsibilities, including the finalization of the limited review report for the unaudited financial results of the quarter ended June 30, 2026.

What the Numbers Show

The departure of Jain Paras Bilala & Co. occurs midway through its five-year tenure, which began in September 2022. The firm had recently issued its audit report dated May 30, 2026, for the financial year ended March 31, 2026. The resignation is procedural, driven by the auditor’s internal policy reviews rather than financial irregularities or governance conflicts. Bhagawati Gas Limited must now appoint a new statutory auditor to ensure continuity of audit services for the upcoming financial reporting cycles.

Bhagawati Gas has accepted the resignation of Narendra Kumar Agarwal as Independent Director, effective July 25, 2026. The company disclosed the development in an intimation filed with BSE Limited on July 25, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The resignation impacts the composition of key board committees, as Agarwal also steps down from the Audit Committee and the Nomination and Remuneration Committee on the same date.

The filing confirms that Agarwal tendered his resignation vide letter dated July 25, 2026, citing pre-occupation with current and new professional commitments. In his resignation letter, he stated there were no other material reasons for his departure beyond those mentioned. The company’s Managing Director, Rakesh Samrat Bhardwaj, confirmed that Agarwal has provided a certification stating no undisclosed material reasons exist for the resignation.

Resignation Details

The following table outlines the specific details of the directorship change as reported in the regulatory filing:

Regulatory Compliance

The disclosure was made under Regulation 30 read with Para A(7B) of Part A of Schedule III of the SEBI Listing Regulations, 2015. The company also referenced SEBI Circular no. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, regarding the information requirements for such changes. The filing included Annexure-1 detailing the event and Annexure-2 containing the original letter of resignation.

What This Means

The exit of an independent director requires the company to ensure its Board continues to meet the statutory requirement for independent representation. While the immediate operational impact is limited to committee restructuring, shareholders should monitor subsequent filings for the appointment of a successor to maintain governance standards. Agarwal’s confirmation of no other material reasons suggests a routine transition driven by personal professional scheduling rather than internal corporate disputes.